Global crude oil prices fell for a fifth straight session, dropping to their lowest in almost six months, today, as a rout in Chinese equities cast further doubt over the outlook for crude demand in the world's top commodities consumer. Brent crude oil futures fell 78 cents, to 52.69 dollars a barrel. Earlier in the session, Brent had dropped to 52.28 dollars a barrel, its lowest since early February, bringing the losses for July to nearly 18 percent. U.S. crude was down 36 cents, at 47.03 dollars a barrel. Also weighing on oil was concern about rising global oil production in a market already oversupplied by some 2 million barrels a day.
News On AIR | July 28, 2015 8:10 PM
Global Oil prices fall to near 6-month lows, rattled by China